Gary Zhou 
Key Points
- 🏭 Tesla suppliers from Asia are preparing for Gigafactory Mexico in Salinas Victoria, as confirmed by the municipality’s Mayor Raúl Cantú de la Garza.
- 🌍 Three Asian companies, namely Ningbo Tuopu Group, JL MAG, and Kawasaki, are planning investments in the region for various manufacturing purposes.
- 💰 Ningbo Tuopu Group intends to invest up to $700 million in Nuevo León, creating 10,000 jobs.
- 💲 JL Mag Rare-Earth Co. is preparing for Tesla Giga Mexico with a capital of $500 million.
- 🏍️ Japanese motorcycle manufacturer Kawasaki is expected to invest $200 million in Nuevo León for a manufacturing plant.
- 🏗️ Each of these companies plans to commence construction on their respective projects in Mexico by 2024, potentially driven by Tesla’s presence.
- 📈 Nuevo León Governor Samuel Garcia estimates a combined investment of up to $15 billion by Tesla and its suppliers in Giga Mexico.
Tesla suppliers from Asia are preparing for Gigafactory Mexico in Salinas Victoria, stated the municipality’s Mayor Raúl Cantú de la Garza. Other companies are also starting to invest in Nuevo León as the Tesla Giga Mexico project hits the ground running.
Mayor de la Garza told local media that three Asian companies are looking to settle in Salinas Victoria, in the next few months: Ningbo Tuopu Group, JL MAG, and Kawasaki.
Ningbo Tuopu Group is involved in the research, development, manufacture, and sales of automotive shock absorption productions and other auto components. It plans to invest up to $700 million in Nuevo León, creating 10,000 new jobs in the area.
Meanwhile, JL Mag Rare-Earth Co. is reportedly preparing for Tesla Giga Mexico with a capital of $500 million in the region. And Japanese motorcycle manufacturer Kawasaki is expected to invest $200 million in Nuevo León on a manufacturing plant.
Each company plans to start construction on their respective projects in Mexico by 2024. The Mayor of Salinas Victoria commented that each project comes with Tesla, hinting that Giga Mexico has encouraged other companies to invest in the region. Mayor de la Garza also teased that other companies are seeking land in the area.
Nuevo León Governor Samuel Garcia estimated that Tesla and its suppliers might invest up to $15 billion in Giga Mexico. After the TSLA Q3 2023 earnings call, analysts were uncertain of Tesla’s plans for Giga Mexico despite the company’s assurance that the project would still push through. On October 30, 2023, Tesla Giga Mexico secured all federal and regional permits to build the factory.
